U.S. trade deficit soars to record high in January as imports rise

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: Created: 09 March 2022; Hits: 1342

WASHINGTON, March 8 (CGTN) - The U.S. trade deficit widened to a record high in January as imports increased and exports fell, the U.S. Commerce Department reported on Tuesday.

U.S. imports rose by 1.2 percent to $314.1 billion in January while exports fell by 1.7 percent to $224.4 billion. The goods and services deficit jumped 9.4 percent from the prior month to an all-time high of $89.7 billion in January.